Homepage / Technology / Peter Thiel has made an offer to purchase Gawker: Report
'Never underestimate human stupidity,' says historian whose fans include Bill Gates and Barack Obama China says its second-quarter GDP growth was 6.7%, meeting expectations Asian stocks poised for slightly softer open as markets await China data Elon Musk courts new controversy after tweeting, then deleting, an attack on a British cave explorer How a former eBay employee is inspiring kids to become tomorrow's problem solvers Here's what the DOJ needs to happen to win its appeal against AT&T The 2018 Hyundai Tucson is a good bargain crossover but skip the high-end model Trump suggests US and UK could strike a 'tremendous' trade deal after Brexit PlayVS wants to bring electronic sports gaming into high schools The unintentional winners of Prime Day: Amazon’s competitors Elon Musk insists he's neither Democrat nor Republican, as political contributions come under fire Amazon could make a big impact in health by helping people eat better Even without a GPS, here's why mobile phones are 'the best spying device you can imagine' How the Bee Gees plan to stay alive in the era of digital music Verizon, AT&T, Sprint and T-Mobile say they have unlimited data plans, but here's the fine print Elon Musk has a new interest group that could be added to his list of enemies: Cabbies Uber's troubled culture persists, as sensitivity 'blind spots' raise new questions Top VC Deals: Uber and Alphabet backed Lime, Larry Page invests in personal aircraft company Tesla rolled out a new attendance policy for hourly workers this month — read it here Elon Musk: Whatever pain Tesla factory workers felt, 'I wanted mine to be worse' Facebook, Google and Twitter will testify next week at a House Judiciary hearing on content moderation In ETFs, the bigger the stock, the more money goes into it and that could be costing regular investors Ex-Labor secretary: Cash handouts 'may seem like a pipe dream' but could be 'inevitable' Cisco, networking stocks drop on a report Amazon Web Services is developing its own network devices Microsoft's president says the government needs to step up regulation of face recognition technology Facebook admits it's not adding enough minority engineers, says the problem may lie with its roots The 2018 Cadillac ATS-V is one of the best sports sedans you can buy There’s one media stock that’s outperforming Netflix Trump's SCOTUS nominee thinks ISPs have First Amendment rights, which could hurt privacy laws The bond market is sounding an alarm on the economy as 'yield curve' spread hits narrowest in 11 years on Friday India execs raise concerns about potential trade war with US Watch out, retailers. This is just how big Amazon is becoming Jefferies raises Facebook price target, sees revenue topping expectations An Amazon Prime Day for health care? Here's what experts say it could look like Can money buy success at the World Cup? Children and PTSD: Health risks linger long after acute psychological trauma ends Netflix faces major risk heading into earnings, money manager says Morgan Stanley raises its price target on red hot WWE stock by nearly 70% to Street-high Trump walks back Brexit threat: 'Whatever you do is OK with us' 4,500 tech workers, 1 mission: get Democrats elected Watch: Trump holds news conference with UK Prime Minister Theresa May after he attacked Brexit plan Goldman Sachs says cybersecurity stocks could get a boost from fears of meddling in the midterm elections AT&T's Randall Stephenson says chances of a successful DOJ appeal are 'remote': 'This changes nothing' PNC shares gain after higher commercial lending leads to better-than-expected earnings report Amazon just hit a new high, and one trader sees more to come Stocks making the biggest moves premarket: JPM, DIS, BLK, T, JNJ, MCD & more Deutsche Bank warns Netflix may miss second-quarter subscriber expectations Wells Fargo shares fall after second-quarter revenue misses estimates Trump’s dream to meet the queen makes this trip a victory, former White House aide says In this earnings season, a volatile stew of expectations London mayor says the UK is not afraid to call out Trump: ‘We think you’re wrong’ ‘Trump Baby’ balloon takes flight in central London amid protests Even May's UK opponents are backing her against Trump Theresa May had a plan in place for Brexit. Then Donald Trump landed Jack Dorsey loses 200,000 followers on Twitter after fake user purge Trump to have tea with the queen at Windsor Castle The US is trying to nail down terms with Pyongyang, while 'South Koreans aren't wasting time' Trump is likely to ask Putin for help with his North Korea problem European markets seen higher amid global trade war fears; Trump visits the UK History shows the US-UK special relationship is increasingly one-sided New tariffs threatened by the US would be more harmful to China than the first batch, says bank CEO Chinese imports fall short of expectations, while exports top estimates China says both its imports and exports with the US rose in the first half of the year Asian stocks extend gains amid relief over lack of trade escalation, tracking US rally Nvidia and Netflix produced top shareholder returns over past five years, BCG study shows Apple announces $300 million clean energy fund in China Broadcom has a new strategy after failing to buy Qualcomm: Roll up enterprise software companies Justice Department appeals Time Warner-AT&T merger approval Women in private Facebook group for cancer gene carriers found marketers could get their names How to avoid overshopping on the longest Amazon Prime Day yet Microsoft challenges Slack with a free tier for Teams Amazon, Xealth working on pilot program to deliver products to patients after hospital discharge Trump's tariffs are unlikely to cause a recession because they are leaving the most important part of the economy alone There are a lot of misconceptions about browsing the web in 'incognito' mode, researchers say How an obscure British rule — the 'chain principle' is changing Comcast's strategy for Fox and Sky Netflix just beat out HBO in Emmy nods, snapping HBO's 18-year streak John McCain blasts Trump’s NATO performance and warns that 'Putin is America’s enemy' Two Dow stocks to buy and one to fade in a volatile market Uber will let riders pay with a Venmo balance Cramer: Pizza execs say Papa John’s is ‘falling apart’ when compared with Domino’s This 23-year-old founded a company with self-driving car tech that's giving Tesla some competition NBA Commissioner Silver ‘rooting’ for Disney in the battle against Comcast for Fox L Brands tumbles after weak sales at 'broken' brand Victoria's Secret Law firms climb aboard the AI wagon A welcome upgrade to apprenticeships A Chinese music-video app is making WeChat sweat Development-impact bonds are costly, cumbersome—and good Big corporates’ quest to be hip is helping WeWork What the UK’s top politicians have said about Trump — and it's not always nice Kim Kardashian West and Warren Buffett agree that this is the best investment you can make Tesla factory workers reportedly drank Red Bull, walked through raw sewage to meet Model 3 quotas Amazon is 'the most robust and durable' among the FANG stocks, Canaccord says As Trump’s UK visit faces backlash, here are some of his most high-profile friends in the country Hackers are selling access to law firm secrets on dark web sites Mega-chip stock Broadcom loses $17 billion in value after Wall Street demolishes company's software acquisition strategy Trading app Robinhood adds two new cryptocurrencies despite bear market Apple just updated its MacBook Pro with new processors and better keyboards The UK government wants a 'new arrangement' for its banks after Brexit Consumer prices rise at the fastest pace in 6 years An under-the-radar defensive stock is quietly surging as safety plays make a comeback

Technology

Peter Thiel has made an offer to purchase Gawker: Report

Venture capitalist Peter Thiel has made an offer for Gawker, hoping to overcome legal hurdles and rival bidders for the online news site the billionaire helped shutter by funding litigation against it, people familiar with the matter said on Thursday.

Gawker, which has been inactive for more than a year, is conducting an auction of its remaining assets, including its domain names and nearly 200,000 archived articles. Most of its assets, including its sister pages Deadspin, a sports site, and Jezebel, a feminist blog, were bought in 2016 for $135 million by media company Univision Holdings Inc.

Thiel has not said why he wants Gawker, though the potential acquisition would let him take down stories regarding his personal life that are still available on the website, and remove the scope for further litigation between him and Gawker. Thiel, who is Facebook Inc’s first major investor and a co-founder of payment service PayPal Inc, did not respond to a request for comment.

Gawker’s bankruptcy plan administrator Will Holden, of consulting firm Dacarba LLC, and the website’s bankruptcy attorney Gregg Galardi, of law firm Ropes & Gray LLP, have tried to block Thiel’s bid, according to court papers.

Galardi in late November asked a U.S. bankruptcy court judge to deny Thiel’s request to bid, according to court papers. He also argued Thiel is “not a ‘proper’ purchaser” because he could end up as the target of litigation, according to court papers.

Thiel funded former professional wrestler Hulk Hogan’s lawsuit against Gawker after the site published a sex tape featuring Hogan. The former wrestler, whose real name is Terry Bollea, won a $140 million judgment against the site, and later settled for $31 million.

Gawker in 2007 published a story about Thiel’s homosexuality.

Multiple bidders have submitted offers for the site, Holden said in a phone interview on Thursday. Holden will choose a winner as soon as this month, and then request approval for the deal from a U.S. bankruptcy court judge, the sources said. If Holden excludes Thiel’s bid, Thiel could ask the judge to consider it if it is higher than rival offers.

The value of Thiel’s bid could not be learned, though the sources said Gawker is only now worth a few million dollars.

Kevin Lee, the co-founder and executive chairman of Didit, a marketing firm, said he also submitted a bid, without disclosing its value. If successful, Lee said, he plans to use the site to raise money for readers’ preferred charities.

The terms of the Univision sale restrict new articles from being published on Gawker until March 9.

A group of former Gawker employees this week abandoned their effort to bid, one of the sources said. They had launched a campaign seeking $500,000 in donations through fundraising site Kickstarter, but failed to reach their goal and have returned the approximately $90,000 they did collect.

Source: Tech CNBC
Peter Thiel has made an offer to purchase Gawker: Report

Comments are closed.